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Jackson Financial Incorporation
(NYSE:JXN)
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Rating:69Neutral
Price Target:
$138.00
▲(15.69% Upside)
Action:Reiterated
Date:08/04/26
The score is led by strong technical momentum and a notably positive, target-reaffirming earnings call emphasizing capital generation, liquidity, and shareholder returns. Offsetting these strengths, financial performance is only mid-range due to weak/volatile profitability and compressed ROE versus prior years, while valuation is mixed given a solid dividend yield but a negative P/E tied to earnings volatility.
Positive Factors
Liquidity & Holding-Company Cash
Substantial holding-company cash and roughly $4B of total available liquidity provide durable financial flexibility to fund operations, prefund maturities, and support capital returns without forcing asset sales. This liquidity underpins steadier execution through market cycles and supports strategic actions over months.
Negative Factors
Volatile Profitability / ROE
Despite healthy account growth, earnings quality has swung materially from prior years: thin net margins and negative operating margins reflect volatile underwriting and hedging results. Persistently weak operating profitability and sharply lower ROE limit sustainable shareholder returns and heighten execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Liquidity & Holding-Company Cash
Substantial holding-company cash and roughly $4B of total available liquidity provide durable financial flexibility to fund operations, prefund maturities, and support capital returns without forcing asset sales. This liquidity underpins steadier execution through market cycles and supports strategic actions over months.
Read all positive factors
Jackson Financial Incorporation Key Performance Indicators (KPIs)
Jackson Financial Incorporation (JXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.13B
Dividend Yield2.59%
Average Volume (3M)647.27K
Price to Earnings (P/E)163.8
Beta (1Y)1.34
Revenue Growth15.09%
EPS GrowthN/A
CountryUS
Employees3,490
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)0.80
Shares Outstanding67,728,745
10 Day Avg. Volume619,059
30 Day Avg. Volume647,268
Financial Highlights & Ratios
PEG Ratio4.36
Price to Book (P/B)0.75
Price to Sales (P/S)1.12
P/FCF Ratio1.30
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$141.00Price Target Upside18.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)25.95
Revenue Forecast (FY)$7.93B
Jackson Financial Incorporation Business Overview & Revenue Model
Company Description
Jackson Financial Inc., incorporated in 2006 and based in Lansing, Michigan, specializes in offering a diverse range of annuity products primarily to individual investors across the United States. The company, which was previously known as Brooke ...
How the Company Makes Money
Jackson Financial primarily earns money through the economics of selling and managing annuity contracts and the spread between investment returns on its general account assets and the amounts it credits or pays to policyholders. Key revenue/earnin...
Jackson Financial Incorporation Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum and financial results — record adjusted operating earnings and EPS growth, accelerating annuity and spread-based sales (especially RILA), robust capital and liquidity metrics, and growing free cash flow and shareholder returns. Key challenges were manageable and primarily related to short-term valuation volatility in limited partnerships, VA hedging accounting noise driven by implied volatility, elevated required capital growth in the quarter, and variable annuity surrender sensitivity to equity markets. On balance, positives materially outweighed the negatives, with management expressing confidence in targets for full-year free capital generation and continued diversification.Positive Updates
Record Adjusted Operating Earnings and EPS Growth
Adjusted operating earnings reached a new quarterly record with adjusted operating EPS of $7.30; excluding notables and normalizing for tax, adjusted operating EPS was $7.68, a ~55% increase versus the second quarter a year ago. Pretax adjusted operating earnings were $618 million for the quarter ($648 million excluding notable items) and ex-notables earnings increased ~50% year-over-year.
Negative Updates
Limited Partnership Valuation Shortfall
Limited partnership results were below the long-term 10% return assumption in the quarter, producing an unfavorable impact of $0.36 per diluted share. Management noted quarter-to-quarter valuation variability in the limited partnership portfolio.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Adjusted Operating Earnings and EPS Growth
Adjusted operating earnings reached a new quarterly record with adjusted operating EPS of $7.30; excluding notables and normalizing for tax, adjusted operating EPS was $7.68, a ~55% increase versus the second quarter a year ago. Pretax adjusted operating earnings were $618 million for the quarter ($648 million excluding notable items) and ex-notables earnings increased ~50% year-over-year.
Read all positive updates
Company Guidance
Management reiterated confidence in its 2026 targets — specifically at least $1.2 billion of free capital generation and $900 million–$1.1 billion of capital return to common shareholders — citing Q2 free capital generation of $304 million and after‑tax statutory capital generation of $656 million. They pointed to strong cash and liquidity (H1 free cash flow $575 million, $547 million returned to shareholders in H1, nearly $1.4 billion of holding‑company cash & investments and ~ $4 billion of total available liquidity after a $750 million senior debt issuance that prefunded $650 million of 2027 maturities and an expanded $1.25 billion revolver), and solid capital metrics (total adjusted capital $5.8 billion, estimated RBC ~538% vs. a 425% risk appetite). Quarterly operating results were highlighted as record‑setting — adjusted operating EPS $7.30 ($7.68 ex‑notables) and pretax adjusted operating earnings $618 million ($648 million ex‑notables) — and management said continued spread‑based AUM growth and capital generation position Jackson to achieve its full‑year objectives.Jackson Financial Incorporation Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
68
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.51B | 6.68B | 3.09B | 3.17B | 9.72B | 5.50B |
| Gross Profit | 5.65B | 5.71B | 2.39B | 2.47B | 8.91B | 4.99B |
| EBITDA | 401.00M | -14.00M | 1.12B | 1.07B | 7.83B | 4.39B |
| Net Income | 103.00M | 27.00M | 946.00M | 934.00M | 6.19B | 3.42B |
Balance Sheet | ||||||
| Total Assets | 367.06B | 352.59B | 338.47B | 330.25B | 314.98B | 375.56B |
| Cash, Cash Equivalents and Short-Term Investments | 58.19B | 53.47B | 3.77B | 43.57B | 46.79B | 54.17B |
| Total Debt | 2.77B | 4.61B | 2.03B | 4.03B | 4.37B | 4.05B |
| Total Liabilities | 356.59B | 342.24B | 328.47B | 319.92B | 305.61B | 364.49B |
| Stockholders Equity | 9.96B | 9.95B | 9.76B | 10.17B | 8.65B | 10.39B |
Cash Flow | ||||||
| Free Cash Flow | 5.88B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Operating Cash Flow | 5.88B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Investing Cash Flow | -9.48B | -7.76B | -7.09B | -592.00M | -1.37B | -1.30B |
| Financing Cash Flow | 5.80B | 3.94B | 2.37B | -6.33B | -2.16B | -3.77B |
Jackson Financial Incorporation Technical Analysis
Positive
119.28
Price Trends
118.48
Positive
112.94
Positive
109.04
Positive
Market Momentum
4.30
Positive
57.60
Neutral
48.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JXN, the sentiment is Positive. The current price of 119.28 is below the 20-day moving average (MA) of 128.04, above the 50-day MA of 118.48, and above the 200-day MA of 109.04, indicating a bullish trend. The MACD of 4.30 indicates Positive momentum. The RSI at 57.60 is Neutral, neither overbought nor oversold. The STOCH value of 48.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JXN.
Jackson Financial Incorporation Risk Analysis
Jackson Financial Incorporation disclosed 39 risk factors in its most recent earnings report. Jackson Financial Incorporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Jackson Financial Incorporation Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $9.49B | 12.07 | 32.55% | 1.42% | 8.23% | 23.45% | |
73 Outperform | $5.04B | 17.95 | 10.82% | 1.30% | 5.72% | 7.05% | |
73 Outperform | $3.35B | 7.85 | 8.86% | 3.27% | 13.68% | 16.86% | |
70 Outperform | $8.63B | 3.62 | 21.99% | 4.35% | 12.32% | 97.86% | |
69 Neutral | $9.13B | 163.80 | 1.04% | 2.85% | 15.09% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $3.81B | 18.20 | 2.42% | ― | -0.68% | 19.26% |
* Financial Sector Average
JXN
Jackson Financial Incorporation
131.04
37.91
40.71%
CNO
CNO Financial
53.30
15.23
40.01%
GNW
Genworth Financial
9.92
1.45
17.12%
LNC
Lincoln National
43.48
4.44
11.38%
PRI
Primerica
300.97
38.02
14.46%
FG
F&G Annuities & Life Inc
23.56
-9.42
-28.55%
Jackson Financial Incorporation Corporate Events
Business Operations and StrategyFinancial Disclosures
Jackson Financial posts strong Q2 2026 earnings growth
Positive
Aug 3, 2026
Jackson Financial Inc. reported strong second-quarter 2026 results, with $644 million in GAAP earnings, $513 million in non-GAAP adjusted operating earnings, and record non-GAAP earnings per share of $7.30, or $7.68 excluding notable items. Retail...
Business Operations and StrategyExecutive/Board Changes
Jackson Financial announces executive leadership succession plan
Positive
Jul 22, 2026
On July 22, 2026, Jackson Financial Inc. announced a planned executive leadership transition, following the Board’s July 16, 2026 approval of key appointments effective October 1, 2026. Longtime executive Laura L. Prieskorn will retire as pr...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Jackson Financial enters new revolving credit agreement
Positive
Jul 1, 2026
On June 30, 2026, Jackson Financial Inc. entered into a revolving credit agreement with a syndicate of banks, with Wells Fargo Bank, National Association, serving as administrative agent, formalizing a new material source of liquidity for the comp...
Executive/Board Changes
Jackson Financial announces board resignation and committee leadership change
Neutral
Jun 25, 2026
On June 22, 2026, Jackson Financial Inc. announced that director Gregory T. Durant resigned from its Board of Directors for health reasons, effective immediately, after serving as chair and member of the Audit Committee and as a member of the Comp...
Business Operations and StrategyPrivate Placements and Financing
Jackson Financial Issues $750 Million Senior Notes Offering
Positive
Jun 15, 2026
On June 15, 2026, Jackson Financial Inc. issued $750 million of unsecured 6.150% Senior Notes maturing January 15, 2037, with semi-annual interest payments beginning July 15, 2026, and callable at a make-whole premium before October 15, 2036, and ...
Executive/Board ChangesShareholder Meetings
Jackson Financial shareholders back board, pay and auditor
Positive
May 26, 2026
Jackson Financial Inc. reported the results of its May 21, 2026 annual meeting of shareholders, where investors elected all nominated directors to one-year terms, with strong support across the slate and broker non-votes recorded on certain items....
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Jackson Financial posts Q1 loss but strong cash generation
Positive
May 5, 2026
On May 6, 2026, Jackson Financial Inc. held its first-quarter 2026 earnings call, reporting a GAAP net loss of $435 million, or $6.24 per diluted share, alongside non-GAAP adjusted operating earnings of $361 million, or $5.15 per share. Excluding ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.